Question

calculate the amount and compound interest when ruppees 80,000 is invested for 28 months at the rate of 5% per annum.​

Answer 1

Answer:

Compound interest (C.I)=P[(1+

100

r

)

t

−1]

P= Principal r= rate, t= time

⇒ C.I. =8000[(1+

100

5

)

2

−1]

=8000[

1000

25

+

100

10

]=8000[

10000

25+1000

]

⇒C.I=

10

8

[1025]=14.820